Real Estate Investment Loans in Rochester Hills

Countless real estate investors take advantage of investment property financing to purchase an investment property or to refinance a current property. The ability to access Rochester Hills investment property loan solutions at the appropriate time, with suitable loan conditions, time period and rate, can assist real estate investors to continue on the route to success.

Being a real estate investor in Rochester Hills trying to find lending alternatives, you'll be interested to learn that investment home mortgages are not merely painless to qualify for, but are also fast closing. Though many banks think twice about lending funds to a self-employed borrower, privately held financing companies will have no problem authorizing financing, so long as the house has a strong likelihood of generating income, the person has succesfully done similar projects previously, and he has got a well thought out exit strategy and the fiscal capacity to fulfill the terms of the financing. The borrower should either have the funds for an advance payment or be ready to make use of the equity within the property. Because private lending institutions normally require much less paperwork compared with banks and government bureaus, private real estate investment loans in Rochester Hills take a smaller amount of time compared to traditional lending options and close fast.

For many real estate investors, the existing equity locked within a house is definitely an easy way to get money for upcoming real estate projects or to raise the amount of cash available to them. Such as the case of a prior Island View borrower who bought a bank-auctioned home in a touristy area on Lake Michigan at a cost of six hundred thousand dollars. They invested $150,000 in upgrading and renovating the residence, and after that they started a bed-and-breakfast rental and the appraised value increased to $1.2 million.

The net annualized revenue made from the home added up to $120,000/year. Their below average credit score of 460 made it improbable for a standard bank to help them recover their personal investment in the property by doing a refi on the existing loan. Yet, Read Rock Capital (Read Rock Capital) managed to complete a real estate investor loan for them at 65% LTV, letting them free up the money they had personally used on the project.

Real estate investors who want to do a cash-out refi to utilize the equity within their investment properties in order to buy additional properties can also go for real estate investor loans. Suppose an investor buys a distressed home in Rochester Hills and rehabs and flips it, but is unable to sell it off right away. His money is locked within this project, hindering him from making use of it for other projects. Most standard lending institutions, including banks, will not approve a cash-out refinance if the individual hasn't owned the home for less than one year. On the contrary, Read Rock Capital will do a cash-out refinance all the way to 70% loan-to-value based on the as-is price tag of the house as established by a professional appraiser, even when the home is empty and waiting around to be sold.

As an investor in real estate, you need a loan provider who will understand your various funding requirements. If you are looking for a loan provider who knows your requisites and can provide you straight answers about your Rochester Hills real estate investment loan choices, you have come to the ideal place. Submit the contact form on this page or give us a call and let's talk about what kind of investment property loan might be ideal for your project.

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Investment property loans only please, no primary residences at this time.